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Sale of leading energy management specialist
PEMCF advised the vendor on the sale of eSight to BID Equity.
eSight Energy Group Ltd, a global enterprise energy management software specialist, has been sold to MRI Software Ltd. eSight was supported by PEM Corporate Finance on its original sale to BID Equity GmbH in 2018. This time around PEM acted for BID Equity, providing due diligence services and tax advice.
Over the last three years, BID Equity has invested significantly in eSight’s modular product and modern cloud architecture and has also optimized its marketing and sales processes. In addition, the firm placed significant emphasis on the further professionalization of its core processes.
The investment has enabled eSight to win new enterprise clients and to successfully implement large projects. BID Equity are a Private Equity firm investing in software businesses across Europe.
The acquirer, MRI Software is a leading provider of software for real estate management globally. MRI will help eSight accelerate its international growth, open new customer segments and become part of a very powerful technology platform for the real estate sector.
eSight CEO, Janie Jefferies-Freer, said:
“eSight has developed extremely well in recent years and is now a leading platform for sophisticated energy management. BID Equity played a key role in our development, and we are delighted to win MRI Software as a strategic investor to accelerate our growth even further”.
Angus Wood, assistant director at PEM, added:
“We’re delighted to have acted for BID Equity in this transaction. BID Equity required a UK-based adviser and PEM were well-placed to provide the tax due diligence for the transaction and input on the negotiations. I wish eSight well under their new ownership.”
For more information, please contact Shaun Nichols, Marketing Co-ordinator at PEM Corporate Finance, on 01223 949 757 or shaun@pemcf.com.